Elevated Capital Advisors LLC Lowers Stake in The Home Depot, Inc. (NYSE:HD)

Elevated Capital Advisors LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,192 shares of the home improvement retailer’s stock after selling 102 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Home Depot were worth $1,536,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Wealth Management Partners LLC grew its position in shares of Home Depot by 0.6% in the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock worth $2,384,000 after buying an additional 36 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its position in shares of Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after buying an additional 3,873 shares during the last quarter. Disciplined Investors L.L.C. purchased a new position in shares of Home Depot in the 4th quarter worth approximately $409,000. ARS Wealth Advisors Group LLC grew its position in shares of Home Depot by 0.8% in the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer’s stock worth $11,628,000 after buying an additional 239 shares during the last quarter. Finally, JPL Wealth Management LLC purchased a new position in shares of Home Depot in the 4th quarter worth approximately $3,193,000. 70.86% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the sale, the executive vice president now owns 17,367 shares of the company’s stock, valued at $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the sale, the executive vice president now directly owns 7,951 shares of the company’s stock, valued at $2,919,130.14. The trade was a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. DA Davidson cut their price objective on shares of Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Jefferies Financial Group dropped their target price on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Evercore ISI set a $400.00 target price on shares of Home Depot and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. Piper Sandler dropped their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Friday, June 20th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.77.

Home Depot Stock Performance

HD opened at $368.36 on Friday. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The firm has a fifty day moving average price of $363.55 and a 200 day moving average price of $377.83. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The stock has a market cap of $366.49 billion, a P/E ratio of 24.99, a P/E/G ratio of 3.46 and a beta of 1.02.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The firm had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same quarter in the prior year, the firm earned $3.63 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Thursday, June 5th. Home Depot’s dividend payout ratio is presently 62.42%.

Home Depot Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.